KUALA LUMPUR: China Railway Engineering Group Ltd (CREC) is setting up its US$2 billion (RM8.4 billion) regional headquarters in Bandar Malaysia, here, and cited Malaysia's "astute, thoughtful" leader as the reason behind its decision. CREC general manager Cai Zemin told an online news portal that there are nine reasons why the company, which is listed in Shanghai and Hong Kong, decided to set up its HQ in Bandar Malaysia (which is 40 per cent owned by 1Malaysia Development Bhd – 1MDB) and Prime Minister Datuk Seri Najib Razak is one of them. "The Malaysian leader is astute, thoughtful of the people, and dares to turn Malaysia into a developed nation," said Cai, as quoted by the portal. The news portal said it understood Cai to be referring to Najib.

Source: New Strait Times November 08, 2016 12:26 UTC